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A CAGR of 39.6% is expected by 2023 in global machine learning market. Global Machine Learning Market report entails the detailed analysis of market drivers, market trends and market challenges.
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Summary • TheGlobal machine learning market is projected to expand at a CAGR of 39.6% and is expected to be worth USD 13.5 Bn by 2023. With the generation of massive volumes of data across industries, data analytics is crucial to the success of businesses, leading to the rise of machine learning. • The rapid evolution and increased use of Artificial intelligence (AI), development of new robust data models and associated algorithms, and a growing number of start-ups have given an impetus to the expansion of the global machine learning market.
Regional insights • The machine learning market in North America is expected to expand at a CAGR of 35.1% during the 2018-2023 period. • Asia-Pacific, on the other hand, will be the leading contributor to the global machine learning market, and is expected to contribute USD 3.55 Bn by 2023. • Asia-Pacific region will witness the highest CAGR (46.1%) during the forecast period of 2018-2023. • The European ML market is expected to expand at a CAGR of 30.3% during the 2018-2023 period, contributing USD 2.3 Bn by 2023.
Major Players • Google • Microsoft Corporation • IBM Corporation • Apple • Amazon • Facebook • Salesforce • Baidu • Intel Corporation • SAP SE
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